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More stories about refi boom propping the economy...

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jtrotta

Senior Member
Joined
Jan 16, 2002
LeeAnn

the very first house I ever bought was $17,000, the interest rate was around 4.5-5.2% that was around 1971; kept it for a few years and then Sold it for $52,000 - it was my intro to Real Estate.

I think we'll see one more period of perhaps the best rate offers and then the rise will begin. the basics will be the increased taxes all around, as most States are now running in the Red, the public will be absorbing a lot, this will lead to an increase in the Forclosure market and who ever has some capital will be able to get on the bandwagon and make some serious danero; they so named it in the stock market as;
A Market Correction" and everyone knows about it, including the gomnt. - so let there be lots of cake ta go round.

A while back I said, when we start seeing all these "Tax Breaks" I wondered what it would cost us; so ya see now what I was eluding to, ifn I told ya in the begining, know one would have believed it anyway, so we just sit here and wait & see and now it has presented itself in a way that everyone can clearly see.

8)
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
jtrotta,

You have really neailed it on the potential for some serious bucks. I have been positioning myself for this upcoming oppurtunity.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
That's the first time I've seen anything in print that shows housing prices have declined during the past 2 years!
 

Steve Owen

Elite Member
Joined
Jan 16, 2002
Professional Status
Certified General Appraiser
State
Missouri
I'm not sure I really believe the graph, but there is some interesting text in the presidential years boxes:

With the labor market showing no signs of strength, some experts worry that many markets are due for a correction in home prices.

Add to that information, this information:

http://www.msnbc.com/news/882990.asp

Nothing ever happens in a vacuum. Even a minor recession could probably make jtrotta's predictions come true - and then some.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
I personally would NOT place all my eggs in a real estate basket at this time.

Houses are very difficult to eat.


IF/when the majority of the populace is standing in a bread-line, even low end houseing is goignto go wanting.

"Safe as Houses" is no sure thing: if the economy REALLY tanks, putting all your money on the table when drawing to an inside straight is a suckers bet.

~~~
Think on these figures: 52% of our food is imported these days, I think the figure is 65% of fuel is from ex-domestic sources... Fed sources are indicating an increased need for domestic residential energy use, while business/commercial use is anticipated to FALL.... (which to me says their crystal ball swirls in the direction of decreased GDP....) So we need more produce less and are less and less operating in a domestic vacuum (if indeed we ever did).
~~~

That said the theory of buy low and sell high has ever been the road to comfort, save thsoe lucky souls who hit the jackpot or draw to that inside straight and pull the card they needed...

A$$uming no one else held a higher natural straight 8O and sweeps thier winnings...
 

Jim Bartley

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
That's the first time I've seen anything in print that shows housing prices have declined during the past 2 years!

Pam,

I think the graph shows that the rate of appreciation has slowed...not an actual decline in values.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Lee Ann, I doubt any appraiser at this forum would put all th eggs...

But, if anyone should be investing in RE it is an appraiser. As a matter of fact, we(appraisers) should all be investing in RE all the time regardless of market conditions.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
:lol:
Well Andrew I think likewise, but will NOT make RE my sole investment.

I have high regard for most of my appraising brethren, but didn't want to encourage the one or two fools in every crowd to come agunning for me later because they thought I said buy when I shout FLY!
 

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
Why would an appraiser invest in anything but real estate? It may go down and does from time to time, but when it does everything else is basically screwed too. I've never understood why appraisers invest in stocks/mutual funds/bonds or anything out of their area of expertise. Just doesn't make sense to me.
 
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